Wealth Enhancement Advisory Services LLC Sells 5,213 Shares of Eversource Energy (NYSE:ES)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,426 shares of the utilities provider's stock after selling 5,213 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Eversource Energy were worth $2,946,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mizuho Bank Ltd. bought a new stake in Eversource Energy during the fourth quarter valued at about $26,000. Assetmark Inc. boosted its holdings in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. bought a new stake in Eversource Energy during the fourth quarter valued at about $33,000. OFI Invest Asset Management bought a new stake in Eversource Energy during the fourth quarter valued at about $35,000. Finally, CoreCap Advisors LLC boosted its holdings in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 383 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ES shares. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday. BMO Capital Markets increased their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.67.

Eversource Energy Price Performance

ES traded up $0.08 during midday trading on Friday, reaching $63.33. 2,858,244 shares of the company's stock were exchanged, compared to its average volume of 2,485,755. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The business has a 50-day simple moving average of $62.57 and a two-hundred day simple moving average of $60.22.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.49 earnings per share. As a group, research analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio is 129.74%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president now owns 10,988 shares in the company, valued at $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company's stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.